SpaceX Transfers an Additional $31 Million in Bitcoin to a New Wallet
SpaceX, led by Elon Musk, has transferred another 281 BTC (worth $31.3 million) on October 29, bringing its total Bitcoin movements this month to 4,337 BTC (approximately $471.7 million), according to on-chain data from Arkham Intelligence. All transactions were processed via Coinbase Prime, an institutional custody platform. Earlier this month, SpaceX executed two major transfers — one on October 21 valued at $268.5 million, and another on October 24 worth $171.9 million. Analysts believe these transactions are part of a wallet restructuring process, as the funds appear to be moved from older addresses to new ones for consolidated custody management. Arkham data indicates that SpaceX currently holds around 7,258 BTC (about $799 million), down from 8,285 BTC recorded in March 2024. Meanwhile, Tesla continues to maintain its holdings of 11,509 BTC, valued at approximately $1.3 billion.
